BISMARCK, ND (KXNET) — Rig Counts are about the same as last month's. However, oil prices in the United States have been incredibly volatile as of late due to the current geopolitical space between the United States and Russia.

Covered in this week's Director's Cut for the state's August oil Production numbers, the North Dakota Department of Mineral Resources saw an increase almost immediately in prices following President Donald Trump's sanctions on Russia, affecting two of the biggest Russian oil companies. Since last week, oil prices have risen by roughly three to four dollars per barrel. However, North Dakota Director of Mineral Resources, Nathan Anderson, anticipates this is only a short-term effect strictly due to geopolitical factors to apply pressure on the Russia-Ukraine war.

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